About 1.6 million Australians will be hit by cuts to the JobKeeper wage subsidy today.
The two-tier payment received by businesses will from Monday fall from $1200 to $1000 a fortnight for people working more than 20 hours a week.
Workers on less than 20 hours will have their payment slashed from $750 to $650 a fortnight.
The final reduction in the Morrison Government wage subsidy comes ahead of the scheme’s end on March 28.
But the cuts to support for thousands of businesses during border closures and new coronavirus outbreaks has angered the Opposition.
“Today’s cuts to JobKeeper ignore the increased stress on many businesses over the holiday period, particularly in parts of Sydney and surrounding tourist regions,” Labor finance spokeswoman Katy Gallagher said.
“Many business owners are seeing holiday bookings cancelled or empty tables in their cafes and restaurants at what is usually their busiest time of the year.”
Senator Gallagher said the Government should urgently consider extending financial support to parts of the economy hardest hit by the coronavirus pandemic.
Labor has repeatedly accused the Morrison Government of lacking a jobs plan, with 90,000 more people expected to join the jobless queues come March.
But the Government has repeatedly dismissed calls to extend the JobKeeper wage subsidy beyond its March cut-off in an effort to prevent further job losses.
Health Minister Greg Hunt on Sunday said there were “no plans for any change” to the support measures.